PURPOSE: To obtain an inexpensive sintered Fe-Cr-Co magnet alloy with high density and high magnet characteristics by a powder metallurgical method by molding starting material powder consisting of Fe, Cr and Co in a specified blending ratio and carrying out heat treatment without passing through a solubilizing heat treatment stage.

CONSTITUTION: Starting material powder consisting of 20W35wt% Cr, 3W 15wt% Co and the balance Fe with inevitable impurities and having ≤200 mesh particle size as the principal particle size is mixed and press-molded. The molded body is sintered in an atmosphere with ≤3ppm total concn. of oxygen and nitrogen, and the sintered body is cooled at ≥5°C/min cooling rate from 800°C to 500°C. Without passing through a solubilizing heat treatment stage the sintered body is isothermally treated in a magnetic field and cooled under prescribed conditions. By this method a sintered Fe-Cr-Co magnet alloy with superior magnet characteristics can be manufactured industrially and inexpensively in large quantities.